Vung Ang zone lures investors

The People’s Committee of central Ha Tinh Province granted three investment licences for new operations at the Vung Ang Economic Zone.

Two South Korean firms, Vision Land Co., Ltd and Humantech Company, received licences and will bring more than US$50 million in investment capital in their first stage.

Addition of these two new projects will bring total foreign direct investment (FDI) projects in the Vung Ang zone up to 60, with a combined investment capital of more than VND180 trillion ($9.5 billion), according to the zone’s website.

The third licence was granted to the HCM City Trade and Production Company.

The zone was expected to lure FDI firms this year from a wide range of sectors, including manufacturing, trade, vocational training schools, services, particularly port services, said Vo Kim Cu, Deputy Head of the provincial People’s Committee and director of the economic zone’s management board.

A granting ceremony was held last week by the zone’s management board and Human Tech E&C Comapny in HCM City, which was also used as an investment promotion seminar.

The event attracted 150 participants from South Korea, Taiwan, India and other countries and territories.

Vung Ang was founded in 2006 under a Government decision. It was built on a total area of 22.780ha with competitive advantages in the fields of trade, services, eco-tourism and resorts.

VIETNAMNEWS

Tags: Vietnam Economic Zone, Vung Ang Economic Zone